Move to ensure the availability of fertilisers to farmers at subsidized, affordable and reasonable prices
The Union Cabinet has approved the proposal of the Department of Fertilisers for revision in Nutrient Based Subsidy (NBS) rates for various nutrients i.e. Nitrogen (N), Phosphorus (P), Potash (K) and Sulphur (S) for Rabi Season 2022-23 and approved NBS rates for Kharif Season, 2023 for Phosphatic and Potassic (P&K) fertilisers.
The Subsidy on P&K fertilisers is governed by the NBS Scheme. The government has approved a revision in the NBS rates for Rabi 2022-2023 effective from 01.01.23 to 31.03.2023 and approved the NBS rates for Kharif, 2023 to make available 25 grades of Phosphatic and Potassic (P&K) fertilisers to farmers at subsidised prices.
The government will be providing a subsidy of Rs. 38,000 crores for Kharif 2023 to fulfil its commitment to providing quality and subsidised P&K fertilisers to farmers. The Cabinet decision will have the two-fold benefit of ensuring the availability of DAP and other P&K fertilisers to farmers at subsidised, affordable and reasonable prices during the Kharif season and will also ensure rationalisation of subsidy on P&K fertilisers.